Supercharging the Sports Fan: One-on-One With the Knights of Degen<a href="" target="_blank" rel="noopener">Source</a>

Foreign We're stay it appears to be like like we're simply Sitting right here having fun with the second and We're stay uh Mike O'Day right here with Lake Jameson and Drew Austin all co-founders Of uh Knights of djn nft challenge Focus Around like sports activities followers and sports activities Betting and uh yeah we're all going to Be speaking about what's taking place with The challenge what's up guys what's up Mike What's up guys my identify is Blake uh in Terms of knights of djin I did all of the Art stuff Blake's uh he's being humble he's uh one Of the main nft artists within the area He was voted primary sports activities artist by What was that from you by Beckett he's Done tasks for Torell Owens and Dez Bryant and we're fortunate to have him on Board as our uh head of our artwork Direction uh what's up all people I'm Drew Austin Um one of many co-founders of knights of Djen I'm additionally uh co-founder of a founder And accomplice of Redbeard Redbeard Adventures a enterprise capital fund that Invests in internet 3 tasks and uh the Metaverse and play to earn gaming and The nft ecosystem and uh you realize my job Both as Knights of djen and in crimson beard Is to assist develop uh this area and Bring extra into internet three and uh I'm gonna tease a bit bit however on the

End of this uh on the finish of the speak I'll save two or so for a extremely Cool announcement of one thing we're Doing with knights of D gen so let's Rock and roll So Drew I all the time love listening to you Explain the challenge like I believe you Give a extremely good like 40 second Pitch Of sort of like what we're as much as and What we're doing and what makes it's a Degen like attention-grabbing proper in in The Wider nft area Yeah so I assume I'll give a bit I'll Give a bit background Object and And began and Well I'd describe what we're doing Today Um so you realize background contact my Co-founder Jared Augustine uh he got here to Me and was we had been we sat down we had been Both lately offered tech firms and we We had been getting actually into web3 this Was the center of the pandemic and we Talked about what can we speak about with Our mates all day on daily basis and We after we got here to the conclusion was Our pursuits and the conversations we Were having had been round sports activities sports activities Betting hypothesis on nfts investing in Crypto we needed to share Alpha share Um with like-minded people so we Said let's create a challenge that's constructed

On that basis so it began with This group of folks that shared Those identical pursuits and from there it Became you realize one thing you realize far which I'm actually enthusiastic about we Launched an 888 and uh nft pfp challenge clearly Those are our Knights and from there we Started to become involved in varied Sports Ventures Sports tasks I'm Wearing the jersey of one in every of them at this time What does it say on the again what do you Got that is our fan management group our fan Controlled soccer group with my uh enjoyable On the again shout out Red Beard himself Shout out to FCF their championship sport Is tomorrow Um so I'm actually enthusiastic about that however We our group owns a group in that Football league our group owns as Investors within the Wagner United Soccer Club our group has Esports groups in The footium membership footium league in Zed Run in TRV so we're constructing these Franchises and groups and tasks all in The effort to construct I assume one in every of I Guess three issues one develop the income And worth of our group and the Assets that we maintain to create extra Content extra consciousness and drive Interest within the challenge after which three Come up with enjoyable methods for our group To have interaction and and supply utility and Ultimately the place this all heads is the

Decentralization of knights of Degen and Our and the tokenization of our enterprise And that's the course we're headed And I'm actually enthusiastic about it Yeah thanks for sharing all that um Before we get extra into the construction of Kind of knights DJ and among the Interesting nooks and crannies on variety Of how we're constructing Blake what's one Of the extra like shocking issues from Your finish like clearly you got here in on The artistic aspect of it however like we're All very very concerned in within the Business and the advertising and similar to Other activations and making issues Happen for the challenge what's one thing That's like stunned you in regards to the Project in a optimistic approach in a great way Well I believe like I obtained into nfts in early 2020 I had been Working uh making portraits for athletes For years at that time I had a license To cope with tops so I used to be very acquainted With the sports activities and once I first Started doing nfts it was all like one Of ones tapping into the archive of simply Art that I had created and when Drew Came to us with the Knights of DJing Concept and the concept of doing a Generative assortment I believe was like Uh I imply it was a enjoyable expertise and it Was a giant studying expertise and I Think a few of that reveals in in the best way That the artwork ended up for that first

Batch Um however I'm dope it's it's dope however you Know as an artist I all the time look again at Previous work and I see alternatives to Get higher sooner or later and so I used to be Really like happy with what we did with Our second drop with steeds I believe we Like actually sort of sharpened up the artwork And cleaned it up so like for me I'd Always been the man placing the paint on The canvas and making the precise issues And transitioning into extra of like a Creative Direction function has been like Surprisingly superior yeah and a lot of The wider nft area is like sort of Experimenting and studying and taking Changes and rising proper and we as a Project like from the day we launched it It's like right here in our group how are People really responding and reacting And what do they care about proper Um certain I assume how do you see that Vision like enjoying ahead it going Forward of of like simply offering extra again to nft Holders or nft holders Who care about sports activities and and need to Like that that's the centerfold of our Whole Community which is tremendous superior Because like even on like down days is There one thing else to speak about proper Like I assume what are a few of your Learning classes there of like sort of Anchoring by way of the group and Really excited about what's the worth

That will be delivered to that buyer Base Yeah I imply I assume there's a couple of issues Here Um First begins with a collaboration a Tight collaboration with our group So to present you an instance we have now one Our group council and Lead member Right there otm Shout out to otm he's a giant a part of our Project he leads the the group Council for our for Knights of D gen and What's actually attention-grabbing is like we Work very carefully with our group to Develop Knights of Degen collectively so From day one we began constructing this Kind of like decentralized Model the place we make Proposals we're in talks collectively to Figure out what's going to be greatest for The group yeah and it's weaved extra Into even the construction and the workflow Versus like we're organising for a token That sort of like facilitates this in a More technical approach but it surely's actually the the precise functionality of Doing the work versus like hey right here's This mechanic that permits is doing the Work sure so the the opposite a part of that Is with that set of the concept we Have decentralized governance we have now a Community construction we additionally began Thinking about tasks and by way of

How can we consider the hassle and worth Of a given initiative so our sort of Unique method and like being a sports activities Uh Community we stated let's consider Projects by a singles doubles triples Home runs and Grand Slams a single we Try to shoot for singles nearly each Day doubles we attempt to do them each week Triples we attempt to do each different week Home runs we attempt to do each month and Grand Slams we attempt to do each quarter And that offers us this like sort of Baseline to know what's going to go in And what's going to return out of every Effort and in the long term I believe That's going to assist us to find out how To come compensate tasks how you can Compensate contributors in a extra Autonomous approach and permit the group To begin to construct a muscle of voting on The worth and energy of a given challenge So all the pieces that we do is about how do We construct this 12 months I imply we're solely We're lower than one 12 months outdated so we're We're a extremely new startup so yearly It's that is the primary 12 months the place we're Saying let's deal with the muse Let's construct the muscle tissue let's construct the Organization let's construct the group let's Build our processes let's execute some Of these tasks after which the subsequent you Know 12 months it's about rising our Audience and and furthering our Awareness and and increasing our

Ecosystem and I'm actually excited for That Yes so generally it's like we've realized This by way of trial and tribulation it's Like like we're so assured in all that We're doing however generally speaking That in a brief concise approach is is Challenging proper as a result of like what our Biggest purpose is is to construct the house for Sports followers in internet 3 proper no matter that Means and it's constructing new Ventures and New Opportunities and like Creating these superior experiences Um Blake outdoors of the artwork what's like One factor that that's occurred within the Project that that pursuits you essentially the most That pursuits you Um I imply I believe as an artist such as you Just need to develop and also you need to Challenge your self and also you need to make Better artwork each time you make new artwork Hopefully it's higher than the artwork you Made yesterday and so I already really feel Like one of many one of many Tangible advantages I've gotten by being Parts of knights of DJ is getting that Experience and attending to play artistic Director and design very giant Collections with a whole bunch of traits Um Yeah yeah and Beyond the artwork like what What space of Knight to D gen are you Like that's superior I imply I believe that

It's actually enjoyable to see how just like the Community like we have now the overarching Community after which we have now these little Micro communities which are a part of it And just like the one instance that involves Mind is like poker which isn't Necessarily sports activities however like that Community is prospering and that group On its personal may assist an nft challenge And so I simply suppose like us constructing out That framework to assist these micro Communities Um is admittedly thrilling yeah so it's like An umbrella of all these like micro Communities that that sort of like run On their very own proper like Drew you've Talked about this lots however a dow on Dows proper like that complete that complete Structure First of all are you able to guys hear us Yeah so we are able to't hear one another that Well it's now it feels like a bit Call in response all proper let me simply Want to ensure all people can hear us It's loud as hell over right here all proper Cool what had been you saying uh Mike what Was the query Dows like Dows on down So Our method and just like the imaginative and prescient for the way We're structuring this ecosystem is We're we're in the end need to Dow and Decentralize Knight to d-gen so what Does that imply we see that the Knights Of Degen will likely be this sort of

Overarching Dao the place and I liken it to Um if Disney did you imply to carry your Mic [Laughter] Disney or ESPN had been created in a in in Web 3. if you concentrate on it you realize Disney got here out with this IP And then all the pieces they did from that Point ahead was determining new methods To develop their IP by way of new Ventures And new methods to interact Their viewers Now that's similar to what we're Doing with knights of Degen however The attention-grabbing factor is all the pieces had To be completed and constructed by Disney as Opposed to in a decentralized world our Community members with tokens and nfts Can are available and suggest I need to construct A fantasy sports activities app I need to create a UFC present I need to lead a footium group And that's what's taking place right here so we Are with everybody's shared mission of Growing this evening's d-gen Um Dao and this and and their model and The IP every initiative is usually a Subsidiary down and of itself that wants Support effort execution and drive worth To the larger complete whereas supporting Its personal initiative as effectively after which Ultimately and that is the place Decentralization is on the core of all This is that everybody who participates The contributors the shoppers of the Content or the the challenge the creators

The founders the traders everybody Should profit in a tokenized approach from Participating in rising this model and That's the distinction in ESPN ESPN they Are those that profit if you learn ESPN content material or play on ESPN's fantasy App you're not incomes something however You're creating worth for them We have to decentralize possession and That's the place we're actually leaning into That mannequin and offering the Infrastructure to assist our ecosystem To construct and comply with their passions of Participating in sport and collaborating In internet 3 and and having the ability to Contribute and earn and if we are able to do That then we are able to create a chance For that will not have Existed previously Yeah and I believe that like like that's Half of the image as a result of we're attempting To construct all these completely different ways in which People will be compensated proper with With our tokenomics with Degen token however I believe that what you didn't point out is Like we're additionally taking a look at how that may Be used just like the Partnerships the place People will settle for dgen token proper for Other platforms that aren't a part of our Dow that isn't our enterprise however we're Forming these Partnerships with sports activities Related companies the place individuals can Actually spend the forex that they're Making on Brands and in ways in which

They're like enthusiastic about proper which I Think is is equally as essential as Giving them the token you bought to present Them someplace to place it that's important And I believe what we're seeing at this time with Like eight coin is a superb instance What do you do with Acorn you realize and I'm not knocking eight coin they're simply Getting began however the actuality is There's not a lot utility for I purchased a Sweatshirt with a coin what was that I Bought a sweatshirt there you go you however We purchased merch and that was the Opportunity however our job proper now could be to Build the that that the the Infrastructure and Partnerships and Ecosystem round kod so after we Distribute token otherwise you earn token from Participating in our ecosystem there are Going to be retailers so that you can make the most of It whether or not it's a sports activities betting Platform a fantasy app or upcoming uh Restaurant model known as djen sauce or Beer are soccer tickets all of those Avenues ought to create new utility and Demand for the token and if that occurs Then that creates extra worth for the okay The ecosystem in and of itself and when That begins to occur it provides us extra Resources to reinvest in our ecosystem And that creates a flywheel and that's What we're attempting to do and likewise like That token finally ends up being the most affordable Entry level for somebody to return in and

Be in our ecosystem as a result of individuals will Be in a position to get the token simpler than Nights the place there's solely 8 000 of them Are seeds the place there's solely 4 Thousand of them so I believe it opens up Like the chance for our viewers to Grow a lot larger than it comes with out Diluting the IP that we created Yes so all this can be a new approach of working A brand new mind-set about how you can Organize as people how you can construct proper Like we see it with our in inside our Team it's a brand new approach of working we've Seen with how we're working with the Community how we're working with Partners the character of doing something New is there's no written path and You're going to give you lots some Like hindrances alongside the best way of Trying to determine like a brand new higher Way of doing issues that that's extra Equitable for the people who find themselves Contributing like what are among the Biggest challenges in your guys thoughts That we've seen to this point as a result of I believe We are Paving the best way of doing this and Building this construction and others are Going to repeat us proper so just like the Learning classes are extremely worthwhile Oh yeah I imply this isn't simple that is All new territory I imply we're Paving New floor and our job is to sort of Kind of clear the street for those who Follow on this area and need to pursue

Decentralized companies so I believe the First factor is We lots of people that maintain nfts or Hold tokens the is that is their First expertise feeling invested in a Startup and that comes with positives And negatives positives is that they need to Contribute as a result of they really feel vested in The success and so they really feel a part of the Growth and so they have an possession stake Really in a roundabout way form and kind the Risk is there's a stage of urgency Without persistence to develop that's That's going to occur regardless so our Job is to sort of set expectations Properly we would like our ecosystem and our Community to grasp that we're Building the muscle to quickly Experiment as a result of there isn't a proper Answer you're going to see this subsequent 12 Months each nft challenge goes to Realize hey we are able to't simply depend on nft Sales which are going to be recurring Revenue for the remainder of time that's not What that is so that you're going to see nft Projects need to experiment with Leveraging their IP and Community however Monetizing in new methods and in the event that they're Able to find that by way of Rapid Experimentation these are those that Are going to succeed so the most effective Communities are going to be those That align on that concept and that spirit That we're going to succeed we're going

To fail we're going to be taught and we're Going to maneuver quick and we're going to Try new issues to determine what works In this new world and I believe that we've Done a extremely good job of sort of Setting up that precedent and um yeah That's sort of that's sort of that Yeah I imply I believe that {that a} Challenge in something in like internet three And particularly if you get into like Dao's is like encouraging participation And should you take a look at like the whole quantity Of token holders that we have now after which We have like a handful a number of dozen People which are very very very energetic And they need to construct they need to be Part of that there's additionally individuals Everyone collects for various causes So a few of them purchased it as a result of they Want to flip it or like no matter they Might just like the artwork and so they're like I'm Just getting that as a result of I like the way it Looks and like I imply I'm I'm clearly Very concerned within the Knights of tea Jam But I'm additionally collectors of a whole bunch of Other tasks that I don't go to their Discord and I'm not like of their slack Like little Community or something like I Have I don't know what they're doing And so to me that's just like the problem Just like how can we be sure that we Tell the individuals that will be actually Really excited to take part in FCF or In no matter and like giving them the

Tools to say hey you may come and do This as a lot or as little as you need But we're constructing the instruments should you Want to do it it's this can be a noisy area It's a loud room but it surely's additionally a noise Of area so I the actually figurative Yeah we have now to determine how you can Navigate The the noise out there to ensure That that individuals can look Beyond look be Like look below the hood and see our Level of execution I wouldn't say that We've been are essentially the most viral challenge or Have essentially the most worthwhile nfts or essentially the most Valuable token however I'll put our challenge Up towards any in the whole area in Our skill to execute and our skill To present utility to our group and If you look below the hood that's what You'll see yeah in order that brings up an Interesting level I imply a lot worth Conversation within the nft area is Directly equated to to cost proper and That's solely sustainable so lengthy until There's one thing of substance there how Do you guys take into consideration like not even Just with Knight to djin however Valley Value long run within the nft area and I Guess deliver it to it evening to DJ Yeah I imply to me The the worth of whether or not it's good or Degener associated or web3 associated is like The folks that I meet within the human Relationships that come out of this and

So when new tech like comes Out and now I'm speaking to strangers That I'd by no means met earlier than a couple of new Thing that neither of us know lots About I simply suppose it finally ends up with like Cool new relationships and it by no means Would have occurred if if the underlying Tech wasn't there Yeah I I believe your query was about The long-term worth like worth the Easiest metric to to have a look at when it Comes to worth is worth which you could Transact for it proper now proper like how Do you concentrate on worth greater than that Because that kind of worth will not be Sustainable with out one thing extra yeah So I take a look at worth Um the best way I give it some thought is sort of I Make this comparability you concentrate on Public shares like Tesla for instance Tesla has income and property below Management revenue loss and a sure Value based mostly on that but it surely's the it's The funding investor demand that Creates a considerable premium which Makes their market cap individuals imagine in The future potential of that challenge and attempt to purchase inventory which Removes Supply and will increase demand now In internet 3 and on this token economic system we Have the identical kind of factor property Things that we construct issues which are Revenue era revenue loss Etc we Have demand from traders and Traders

Reducing provide of the token however there's One additional factor that may create worth Far larger than what conventional inventory Can do and that's utility so I believe That the businesses and tasks that Figure out how you can design the correct Utility for his or her token Um and the correct demand for his or her token Are going to see their values Skyrocket In this area as a result of we haven't seen Any of that but so all the pieces that we've Seen at this time in my view is simply Scratching the floor of making worth Out of those web3 tasks utility on Top of the funding demand and on high Of property that's how I take a look at Value What do you guys suppose must occur Like once more dialog Um occur most to love push nfts ahead Push internet free ahead what are we Missing proper now I imply I nonetheless suppose that there's simply Too a lot friction to get somebody new That doesn't I imply most individuals which are On the web have heard about nfts Now however nonetheless you take a look at just like the Number of folks that exists which are on The web after which the variety of Wallets there's like a giant hole there and I believe that it's similar to there's a Hurdle and firms like coinbase have Made it simpler to love simply purchase a Cryptocurrency and and now like with the Nft market however I nonetheless suppose like

We have thus far to go earlier than there's like Mass adoption which is inevitable however It's nonetheless like everybody desires it to Happen in three months it's most likely Gonna take 36. Okay so I'll I'll deliver up one thing That can even lend itself to the Announcement I need to make on the finish But I believe there's one factor that's Like harmful for this uh ecosystem and I believe it's the phrase rug I believe that rugs should be outlined Clearly personally the best way I Define a Rug proper now in my eyes is a challenge With unhealthy intentions that executes that Very effectively okay once I us but it surely's very Different than a begin an nft challenge That fails with good intentions and Executes that very badly so should you suppose About it these rug a rug in my eyes is Someone that goes out with the intention To simply take cash after which shut their Project down or with no intentions To ever present worth to their ecosystem But that's not the identical as tasks that Are not constructed to grasp how you can Execute that this isn't a challenge it's A enterprise and you must have the Ability to assist this challenge Way Beyond simply as a profitable drop and It's and it it takes that stage of Understanding and tasks are gonna Fail and we're going to see loads of Them fail this 12 months once they notice

They can't generate that very same stage of Revenue that they generated day one on That first drop so we have now to be Prepared for the distinction between a Rug and a startup failure and a startup Failure shouldn't be vilified if we Vilify each challenge that fails individuals Will be afraid to experiment they'll Be afraid to create we vilify the individuals With unhealthy intentions which are affecting This market and making it a scary place But we are able to't vilify failed tasks not Everybody goes to win not each Project goes to search out Project Market Fit and that's okay we simply want and also you Know that's that's I believe a giant uh Challenge proper now and it lends itself To one thing that we're going to um strive To do yeah and the truth is having the ability To promote out a mint On hype is a very completely different talent set Than having the ability to construct a sustainable Business of worth I agree with you that like The approach that rug will get tossed round is Probably a bit far like quick and Loose however I do suppose {that a} {that a} Legitimate drawback within the area is scams Like the precise rug scams proper as a result of I really feel like they're have on a regular basis I'm seeing oh this challenge turned out to Be a rip-off and and so they're being hyped Right by influencers which have precise Sway after which and it's not the

Influencer's fault essentially however they Should do their analysis however I do suppose That that could be a hurdle that we have now to Deal with and the blockchain the place Everyone can simply be nameless and also you Don't need to have any actual Accountability is harmful and it's Like scary to new individuals yeah yeah and The problem is prefer it's very very Hard to differentiate between the 2 Right to differentiate between the 2 you Have to look below the hood of each the Project and somebody's thoughts which by Nature of like below the hood is both Really laborious or unattainable so like that That's why as a result of it's laborious to see So so with that stated and I believe it's Actually a great sort of like Transition yeah and I imply we talked About early on like a lot of the Structure that we're trying to construct And that we're that we're leaning into Right and the way we can assist assist issues In the easiest way attainable So okay so uh one thing that we're Working on proper now we I don't know if You guys are acquainted with gamers solely Anyone acquainted with that challenge Michael Carter Williams and a bunch of Different athletes are engaged on that Project effectively there's a there was a giant Uh sort of to do yesterday on social About how that challenge was a rug they Weren't in a position to ship on the

Expectations they set out there and And they didn't execute on and so they Yeah frankly they weren't in a position to attain The potential they got down to do or or Reach the worth they determined to supply so We've been I've been in talks with Michael Carter Williams who's the Founder of that challenge NBA basketball Player presently on the Orlando Magic And we're in talks proper now to accumulate Players solely deliver Michael Carter Williams in-house on our group to assist us With athlete Outreach Outlet athlete Development give their Community a brand new Home for the reason that success of that challenge Didn't meet their expectations and our Goal is to the muse of The group Unity these sports activities followers That needed to interact with athletes and Players and and work together and supply a Better infrastructure for his or her challenge So I'm actually excited this isn't last Yet however we're in late stage talks proper Now to deliver that challenge in-house give That Community a house after which assist Support that Community to achieve the Objectives they set out once they Supported the challenge and helped the the Creators like Michael Carter Williams Continue to develop and be taught as a result of I Know Michael he reached out to me fairly Just a few occasions throughout the the start of His improvement of that challenge for Advice he's a scholar of this ecosystem

And he wasn't taught how you can construct a Startup or about web3 he obtained his palms Dirty and the the vilifying individuals like Him as a rug it's it's powerful since you Want you need individuals like that to have The braveness to strive now we he'll Acknowledge firsthand he didn't Deliver however we hope that we is usually a Platform for these varieties of athletes and Entertainers to have the ability to be taught develop Grow and and supply worth to their Communities inside our larger ecosystem So I'm actually excited that we're in a position to Uh hopefully deliver that deal residence yeah I Mean that's what we talked about from The get of this dialog proper and We've we've been doing it we're attempting To higher assist higher assist Sports associated initiatives proper for internet 3 and that's what we're doing any Closing ideas from you guys Stay superior go go verify it go take a look at Knights of D gen guys we might like to Have you a part of our group uh you Can discover me at Drew Austin on Twitter At Blake Jameson on Twitter at it's Mike O'Day thanks all people [Music]